Thursday, June 28, 2007

UPDATE 1-Diageo sees profits growth on track, sales up

(Reuters) - The British maker of Smirnoff vodka, Johnnie Walker whisky
and Guinness beer said in a trading update on Thursday that due
to improved sales in Europe and Asia-Pacific it expects
underlying sales growth in the year ending on June 30 to be
higher than its first-half rise of 6 percent.




But the higher than expected sales growth will be offset by
a higher marketing spend and therefore its expected rise in
operating profits stays at the 8 percent level forecast back at
its first-half results in February.
"While Diageo's total organic net sales growth in the full
year is expected to be higher than in the first half, operating
profit growth will be in line with the first half performance of
8 percent," Chief Executive Paul Walsh said in a statement.


Read more at Reuters.com Market News

No comments: